In more than 40 episodes spanning 75 years, equity and bond fund investors have defied predictions that they would panic and spark crises. Yet banking regulators won’t let go of their “run” scenario. Why?

General Secretary of the European Commission Martin Selmayr is pictured during a plenary session at the European Parliament on March 13, 2018 in Strasbourg, eastern France. / AFP PHOTO / FREDERICK FLORIN (Photo credit should read FREDERICK FLORIN/AFP/Getty Images)